Cision
Summary
Shoreline Energy Advisors (Shoreline) announces the sale of all Partnership Interests in the Bridgeport Micro-Grid LLC. Shoreline was the initial developer for the City of Bridgeport’s participation in the Connecticut Department of Energy and Environment Protection’s ground-breaking Microgrid program, and later worked as an advisor to the original investors in the project during their divestiture of Membership Interests.
The recent sale completes Shoreline’s conceptualization and implementation of a unique development approach starting with origination of project concept, feasibility verification, energy off-taker contracting, engineering and design, locating investors and lenders, construction oversight, commissioning, commercial operation and maintenance and marketing to take-out investors and lenders.
While development of true microgrids is still in its infancy, the Bridgeport project was a substantial pioneering effort requiring significant regulatory lobbying and modification even after the Connecticut DEEP’s initial program launch. Shoreline’s development model has proven to be applicable for any large energy project including, but not limited to, cogeneration, central thermal, district energy, storage, renewables, biofuels, and resource recovery.
A developer develops value at each stage of the development cycle. Sub functions of the development process particularly ongoing economic analysis and commercial contracting with energy projects determine the success or failure of development efforts. To date the role and importance of the “development” function, though widely used and accepted in real estate transactions, has been generally overlooked in the energy community. While many within the industry still focus on the critical technical aspects (design and engineering) of energy project development, these disciplines have evolved to the point of being fungible when integrated into the overall development process. Currently there are dozens of firms capable of providing competent and effective technical services which now need only take a supporting role in successful energy project development.
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